Islamabad, Nov. 27 -- The Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, warned that the country's existing economic growth model is no longer viable for a nation of 250 million people, stressing that stabilisation policies cannot continue indefinitely and must give way to long-term, sustainable reforms, The Express Tribune reported.

Speaking at the Pakistan Business Council's "Dialogue on the Economy" on Wednesday, Ahmad said Pakistan's growth trajectory had been steadily weakening for decades--falling from an average of 3.9 per cent over 30 years to 3.5 per cent over the past two decades and further to 3.4 per cent during the last five years.

"Our business cycles are shortening and as such our current growth model simply ...